Six-Year Financial Data

(Dollar amounts in millions, except per share data) 2017 2016 2015 2014 2013 2012
Total Shareholder Return, or TSR (1)            
L&P 3-year TSR Rank among S&P 500 (1% is best) 56% 11% 31% 25% 48% 37%
Leggett & Platt – annual TSR 1% 20% 1% 43% 18% 24%
S&P 500 Index – annual TSR 22% 12% 1% 14% 32% 16%
Summary of Continuing Operations            
Net sales $3,944 $3,750 $3,917 $3,782 $3,477 $3,415
EBIT (earnings before interest and taxes) 468 522 487 332 275 324
Adjusted EBIT (2) 468 492 510 386 333 324
EBIT margin 11.9% 13.9% 12.4% 8.8% 7.9% 9.5%
Adjusted EBIT margin (2) 11.9% 13.1% 13.0% 10.2% 9.6% 9.5%
Summary of Earnings            
Net earnings from continuing operations 294 367 328 225 186 231
Net earnings attributable to L&P 293 386 325 98 197 248
EPS (earnings per diluted share) from continuing operations 2.14 2.62 2.27 1.55 1.25 1.57
Adjusted EPS from continuing operations (2) 2.46 2.49 2.36 1.78 1.50 1.39
EPS (including discontinued operations) 2.13 2.76 2.28 0.68 1.34 1.70
Common Stock Data            
Cash dividends declared per share 1.42 1.34 1.26 1.22 1.18 1.14
Dividend yield (based on stock price at start of year) 2.9% 3.2% 3.0% 3.9% 4.3% 4.9%
Dividend payout ratio (2)(3) 58% 54% 53% 69% 79% 82%
End-of-year shares outstanding (millions) 131.9 133.5 135.6 137.8 139.4 142.1
Average diluted shares outstanding (millions) 137.3 140.0 142.9 143.2 147.2 146.0
Year-End Financial Position            
Cash and cash equivalents $526 $282 $253 $333 $273 $359
Total assets 3,551 2,984 2,964 3,136 3,105 3,251
Long-term debt + current debt maturities 1,252 960 945 964 866 1,052
Equity 1,191 1,094 1,098 1,155 1,399 1,442
Total capital (4) 2,575 2,277 2,263 2,144 2,275 2,520
Net debt to net capital (2) (5) 33.0% 33.9% 34.4% 31.3% 27.2% 29.3%
Return on average equity (6) 25.7% 33.5% 29.1% 17.6% 13.1% 16.8%
Adjusted return on average equity (2) 29.4% 31.8% 30.4% 20.2% 15.7% 14.8%
Cash Flow Components            
Net cash provided by operating activities $444 $553 $359 $382 $417 $450
Dividends paid (7) 186 177 172 168 125 200
Capital expenditures 159 124 103 94 81 71
Acquisitions, net of cash acquired 39 30 11 70 28 212
Stock repurchases, net 155 193 183 128 133 (6)
(1) TSR = (change in stock price + dividends) / beginning stock price; values assume dividend reinvestment. Company goal is to be in the top third of the S&P 500 over rolling 3-year periods.
(2) Please refer to Non-GAAP Reconciliations page.
(3) Calculated as: per share dividends declared / adjusted earnings per share from continuing operations.
(4) Calculated as: long-term debt + deferred taxes + other long-term liabilities + equity.
(5) Calculated as: (long-term debt + current debt maturities - cash) / (total capital + current debt maturities - cash).
(6) Calculated as: net earnings from continuing operations / average equity.
(7) In 2013, the company paid 3 quarterly dividends, since the January 2013 dividend payment was accelerated into December 2012.